FINANCIAL RESULTS FOR THE PERIOD/QUARTER ENDED 30th SEPTEMBER 2022
Net Profit up by 89.42% YoY.
Operating Profit up by 23.22% YoY
Global Business surpassed 19,58,000 crore
Key Highlights (September 2021 V/s September 2022)
Net Profit stood at Rs.2525 cr against Net profit of Rs. 1333 cr for September 2021.
Operating Profit stood at Rs. 6905 cr grew by 23.22%.
Non-Interest Income grew by 13.05%.
Net-Interest Income grew by 18.51%
Fee based income grew by 17.98%.
Cost to Income Ratio down by 316 bps.
Global Business grew by 13.89%.
Gross Advances grew by 20.00%.
RAM Credit grew by 16.40%, it constitutes 55% of Total Advances.
Retail Credit grew by 12.52% with Housing loan at 17.01%.
Gold Loan grew by 32.86% with Portfolio amount of Rs.1,08,794 cr.
Gross NPA Ratio stood at 6.37% down by 205 bps.
Net NPA Ratio stood at 2.19% down by 102 bps.
Provision Coverage Ratio (PCR) at 85.36% improved by 292 bps.
CRAR stood at 16.51% as at Sep 2022. Out of which CET1 is 11.14%.
Return on Equity stood at 18.86% improved by 664 bps.
Bank has shifted to new tax regime. The reduction in Deferred Tax is Rs. 2,451.60 cr.
Key Summary of Business Performance (as on 30.09.2022)
Global Business increased by 13.89% (y.o.y) to Rs 1958111 cr as at Sep 2022 with Global Deposits at Rs 1133964 cr 9.82% (y.o.y) and Global Advance (gross) at Rs 824147 cr 20.00% (y.o.y)
Domestic Deposit of the Bank stood at Rs 1056519 Cr as at Sep 2022 with growth of 7.77% (y.o.y)
Domestic Advances (gross) of the Bank stood at Rs 780049 Cr as at Sep 2022 grew by 17.66% (y.o.y)
Retail lending Portfolio increased 12.52% (y.o.y) to Rs 134051 Cr as at Sep 2022
Housing Loan Portfolio increased 17.01% y.o.y to Rs 78852 Cr
Advances to Agriculture grew by 21.62% (y.o.y) to Rs 196576 Cr as at Sep 2022
Gross Non-Performing Assets (GNPA) ratio reduced to 6.37% as at Sep 2022 down from 6.98% as at June 2022, 7.51% as at March 2022.
Net Non-Performing Assets (NNPA) ratio reduced to 2.19% as at Sep 2022 down from 2.48% as at June 2022, 2.65% as at March 2022.
Provision Coverage Ratio (PCR) stood at 85.36% as at Sep 2022 against 84.51% as at June 2022.
CRAR stood at 16.51% as at Sep 2022 (14.91% as at June 2022). Out of which Tier-I is 13.40%
(12.13% as at June 2022), CET1 is 11.14% (10.49% as at June 2022) and Tier-II is 3.11% (2.78% as at June 2022)
Bank successfully raised capital during FY23 through:
AT-1 Bonds : Rs.4000 Cr
Tier II Bonds : Rs.2000 Cr
The Capital Raising Plan for FY-23:
AT-1 Bonds : Rs.5500 Cr
Tier II Bonds : Rs.3500 Cr
Priority Sector & Financial Inclusion
The Bank has achieved Targets in Priority Sector at 52.12% and Agricultural Credit at 23.35% of ANBC as at Sep 2022, as against the norm of 40% and 18% respectively.
Credit to small and marginal farmers stood at 16.96% of ANBC, against the norm of 9.50%.
Credit to Weaker Sections stood at 24.46% of ANBC, against the norm of 11.50%.
Credit to Micro Enterprises stood at 11.14% of ANBC, against the norm of 7.50%.
Credit to Non Corporate Farmers stood at 18.66% of ANBC, against the norm of 13.78%.
As on 30.09.2022, the Bank has 9722 Number of Branches, out of which 3040 are Rural, 2748 Semi- Urban, 2002 Urban & 1932 Metro along with 10759 ATMs. Bank is also having 3 overseas branches in London, Dubai and New York.